This line represents revenue that would have been recognized by Red Hat under GAAP if the acquisition had not occurred, but was not recognized by IBM due to purchase accounting and intercompany adjustments. International Business Machines Corporation (IBM Quick Quote IBM - Free Report) reported third-quarter 2020 non-GAAP earnings of $2.58 per share, which surpassed the Zacks Consensus Estimate by 1.2%. IBM research and development expenses for the twelve months ending September 30, 2020 were $6.318B, a 9.86% increase year-over-year. Data is a real-time snapshot *Data is delayed at least 15 minutes. This decline in revenue was primarily driven by the 5.6% YoY decline in Infrastructure & Cloud Services revenue … See all UBS Global TMT Virtual Conference. … More than 2,600 clients are utilizing Red Hat and IBM’s hybrid cloud platform, at present. IBM today announced third-quarter 2020 earnings results. See the Q3 2020 Earnings Announcement Explore the 2019 Annual Report Earnings & financials. Today, IBM has laid the foundation for a new era of technology and business. IBM revenue from global business services amounted to $4,136 million during Q1 2020, with a flat 0.4% YoY growth. “The strong performance of our cloud business, led by Red Hat, underscores the growing client adoption of … Consolidated net income was $4.2 billion, down 27 percent year to year. Surprisingly, the company's global revenue declined YoY for the second quarter in a row. Nearly half of that came from the IBM’s consulting services. IBM expects its 2020 non-GAAP earnings to be at least $13.35 per share. IBM revenue for the twelve months ending September 30, 2020 was $75.030B, a 2.72% decline year-over-year. In the same quarter last year, International Business Machines Corp's revenue was $18.18 billion. Total revenue fell 2.6pc in Q3 2020 to $17.6bn, slightly above analysts’ forecasts, while revenue from the cloud and cognitive software unit was up 7pc to $5.6bn. Except for the historical information and discussions contained herein, statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. At that time IBM issued preliminary results, saying it expected $2.58 in adjusted earnings per share on $17.6 billion in revenue. A Division of NBCUniversal. IBM’s systems segment, which includes the new big iron, grew 16% year-over-year on greater than 60% growth in mainframe sales. In the third quarter, the company generated net cash from operating activities of $4.3 billion, or $1.9 billion excluding Global Financing receivables. Peeking ahead, IBM’s adjusted fiscal 2020 EPS figure is expected to slip 4.8%, on 2.6% lower revenue. At that time IBM issued preliminary results, saying it expected $2.58 in adjusted earnings per share on $17.6 billion in revenue. "Our clients see the value of IBM’s hybrid cloud platform, based on open technologies, at a time of unprecedented business disruption," said Arvind Krishna, IBM chief executive officer. IBM's cloud revenue encompasses all cloud-related revenue generated across its reportable segments. Get this delivered to your inbox, and more info about our products and services. jbuko@us.ibm.com, Strong Cloud Revenue Growth; Gross Margin Expansion; Solid Balance Sheet and Liquidity Position, IBM Launches New Innovative Capabilities for Watson, https://www.ibm.com/investor/events/earnings-3q20, IBM 3Q20 Earnings Press Release (includes financial tables), GAAP EPS from continuing operations of $1.89, Revenue of $17.6 billion, down 2.6 percent (down 3.1 percent adjusting for divested businesses and currency), Total cloud revenue of $6.0 billion, up 19 percent, Red Hat revenue up 17 percent (up 16 percent adjusting for currency), normalized for historical comparability, GAAP gross profit margin of 48 percent, up 180 basis points; Operating (non-GAAP) gross profit margin of 49 percent, up 160 basis points, Net cash from operating activities of $15.8 billion and free cash flow of $10.8 billion, over the last 12 months. What was IBM's earnings growth in the past year? Dividends. Financial reporting. Forward-looking statements are based on the company’s current assumptions regarding future business and financial performance. © 2020 CNBC LLC. IBM (NYSE: IBM) today announced third-quarter 2020 earnings results. In January, IBM had forecast adjusted earnings of “at least” $13.35 a share for 2020, while analysts expected $12.01 a share. The company's free cash flow was $1.10 billion, below the FactSet consensus of $2.26 billion and the lowest since the first quarter of 2001, according to FactSet. No, as per Trefis estimates IBM is expected to report a small decline of 0.8% y-o-y in FY 2020 and record revenue around $79.7 billion. Revenue for its third quarter of 2020 ended 30 September came in at $17.6bn, down 2.6 percent. BofA Securities Global Technology Conference Event June 03, 2020. All Rights Reserved. IBM earnings call for the period ending September 30, 2020. Oct. 19, 2020 4:13 PM ET International Business Machines Corporation (IBM) By: Gaurav Batavia, SA News Editor 57 Comments IBM (NYSE: IBM ) : … The company had been projecting full-year 2020 earnings per share of … IBM earnings call for the period ending September 30, 2020. IBM revenue for the quarter ending September 30, 2020 was $17.560B, a 2.6% decline year-over-year. IBM Corp. just can’t get its revenue momentum going.The computer giant today said its third-quarter revenue fell, dragged down by weaknesses in its … The company did not issue new guidance on Monday. barbini@us.ibm.com, John Bukovinsky, 732‑618‑3531 The technology company reported $2.58 earnings per share for the quarter, meeting analysts' consensus estimates of $2.58. Revenue from Global Business Services totaled $3.97 billion, down 5% and more than the $3.90 billion consensus. Except as required by law, the company assumes no obligation to update or revise any forward-looking statements. On Apr 20, 2020, International Business Machines Corp (NYSE: IBM) reported Q1 2020 revenue of $17.57 billion up 3.36% year over year. In third-quarter 2020, revenues from Red Hat soared 16% on a normalized basis. In June 2020 quarter, IBM reported a 5.42% YoY decline in its quarterly revenue, amounting to $18,123 million, worldwide. The top-line, however, surpassed experts’ prediction, while earnings matched. The Webcast may be accessed via a link at https://www.ibm.com/investor/events/earnings-3q20. PNG; XLSX; PDF; About. On a stand-alone basis, Red Hat grew its revenue … During a conference call with analysts on the day of the announcement Krishna called said IBM expects to reach "sustainable mid-single digit revenue growth over the medium term.". IBM’s free cash flow was $1.1 billion. International Business Machines last posted its earnings data on October 19th, 2020. Revenues for the six-month period ended June 30, 2020 totaled $35.7 billion, a decrease of 4 percent year to year (down 1 percent adjusting for divested businesses and … Revenue declined 2.5%, falling for the third consecutive quarter on an annualized basis, according to a statement. IBM Revenues for the nine-month period ended September 30, 2020 totaled $53.3 billion, a decrease of 4 percent year to year (down 2 percent adjusting for … Consolidated diluted earnings per share was $4.72 compared with $6.45 per diluted share for the 2019 period, a decrease of 27 percent. As of Q4 2020, International Business Machines Corp's earnings has grown 2.54% year over year. IBM annual research and development expenses for 2018 were $5.379B, a 3.77% decline from 2017. Forward-Looking and Cautionary Statements. The sales will likely rise by 1.7% in 2021 to $80.7 billion. IBM Corp. just can’t get its revenue momentum going.The computer giant today said its third-quarter revenue fell, dragged down by weaknesses in its … (3) Represents the first-quarter 2020 impact of the deferred revenue purchase accounting adjustment and adjustments to add back revenue which was eliminated for sales between Red Hat and IBM. The company is spinning out part of its Global Technology Services division into a new company. “The strong performance of our cloud business, led by Red Hat, underscores the gr IBM today announced first-quarter 2020 earnings results. In an effort to provide investors with additional information regarding the company’s results as determined by generally accepted accounting principles (GAAP), the company has also disclosed in this press release the following non-GAAP information, which management believes provides useful information to investors: The rationale for management’s use of these non-GAAP measures is included in Exhibit 99.2 in the Form 8‑K that includes this press release and is being submitted today to the SEC. Welcome, and thank you for standing by. Fourth-quarter earningsof $4.71 per share beat analysts’ expectations of of $4.69, while revenue of $21.78 billion squeaked past estimates of $21.62. IBM ended the third quarter with $15.8 billion of cash on hand which includes marketable securities, up $6.7 billion from year-end 2019. Red Hat revenue … “The strong performance of our cloud business, led by Red Hat, underscores the growing client adoption of … IBM has posted another quarter of falling sales, and decided not to forecast what will happen over its next 90-day financial reporting period. Operating (non-GAAP) net income for the nine months ended September 30, 2020 was $5.9 billion compared with $7.2 billion in the prior-year period, a decrease of 18 percent. IBM (NYSE: IBM) today announced second-quarter 2020 earnings results. Storage revenues grew 3% and sales of … IBM annual revenue for 2019 was $77.147B, a 3.07% decline from 2018. Segment results reflect growing adoption of IBM's open hybrid cloud platform while clients continue to shift priorities to preserve cash and maintain operational stability. International Business Machines Corp. IBM: Revenue by Business Segment (2020) Download. IBM Strategic Update 2020 October 08, 2020 See event information Upcoming & Recent Events. Q1 revenue: $17.6 billion (-3.4% YoY, -19% QoQ, vs. $17.6 billion expected) Q1 earnings: $1.2 billion (-26% YoY, -68% QoQ) Q2 guidance: Like many companies, IBM is no longer providing guidance for the rest of the year due to the impact of COVID-19. * IBM revenue by region Total revenue of $19,160 million decreased 4.2 % as reported and 2 % adjusted for currency in the second quarter compared to the prior year. Earnings … Analysts expect IBM’s revenues to rise by 2.8% in 2020 to $79.3 billion. ARMONK, N.Y., Oct. 19, 2020 — IBM today announced third-quarter 2020 earnings results. IBM annual revenue for 2018 was $79.591B, a 0.57% increase from 2017. The company returned $1.5 billion to shareholders in dividends. Earnings International Business Machines (NYSE:IBM) Earnings Information. Earnings … No, as per Trefis estimates IBM is expected to report a small decline of 0.8% y-o-y in FY 2020 and record revenue around $79.7 billion. IBM (NYSE:IBM) reports Q3 results with revenue down 3% Y/Y to $17.56B, matching consensus estimates but marking the third straight quarter of revenue declines. Systems revenue was $1.26 billion, down 15% and below the $1.55 billion consensus. (3) Represents the second-quarter 2020 impact of the deferred revenue purchase accounting adjustment and adjustments to add back revenue which was eliminated for sales between Red Hat and IBM. IBM unsure what 2020 will bring as revenues drop again in quarter Though revenue was down, Big Blue narrowly beat industry expectations. Any forward-looking statement in this release speaks only as of the date on which it is made. (3) Represents the second-quarter 2020 impact of the deferred revenue purchase accounting adjustment and adjustments to add back revenue which was eliminated for sales between Red Hat and IBM. Contacts: Revenues for the nine-month period ended September 30, 2020 totaled $53.3 billion, a decrease of 4 percent year to year (down 2 percent adjusting for divested businesses and currency) compared with $55.4 billion for the first nine months of 2019. Got a confidential news tip? Infographic: Highlights of IBM’s (IBM) Q3 2020 earnings report. Stock history. Shares of IBM fell 2.7% in extended trading on Monday after the company released third-quarter earnings that were in line with what analysts had expected. As mentioned, it grew 31.3% in Q2 2020, the … Highlights for the third quarter include: “In the third quarter we continued to deliver strong gross profit margin expansion, generated solid free cash flow and maintained a sound capital structure with ample liquidity," said James Kavanaugh, IBM senior vice president and chief financial officer. IBM Q2 2020 Earnings Call Jul 20, 2020, 5:00 p.m. “The strong performance of our cloud business, led by Red Hat, underscores the growing client adoption of our open hybrid cloud platform,” said Arvind Krishna, IBM chief executive officer. ARMONK, N.Y.--IBM (NYSE: IBM) today announced third-quarter 2020 earnings results. Edward Barbini, 914‑499‑6565 * IBM revenue by region Total revenue of $19,160 million decreased 4.2 % as reported and 2 % adjusted for currency in the second quarter compared to the prior year. IBM posted a third consecutive quarter of declining revenue. That's down 4% year over year and higher than the FactSet consensus estimate of $6.25 billion. In the same quarter last year, International Business Machines Corp's revenue was $18.18 billion. IBM's Cloud and Cognitive Software segment, which includes Red Hat, produced $5.75 billion in revenue. IBM’s regular quarterly earnings conference call is scheduled to begin at 5:00 p.m. EDT, today. Presentation charts will be available shortly before the Webcast. Financial reporting. Sign up for free newsletters and get more CNBC delivered to your inbox. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. On Monday, IBM also withdrew its full-year 2020 guidance because of uncertainty surrounding coronavirus. This line represents revenue that would have been recognized by Red Hat under GAAP if the acquisition had not occurred, but was not recognized by IBM due to purchase accounting and … "We have the necessary financial flexibility to increase our investments in hybrid cloud and AI technology innovation and skills, while remaining committed to our long-standing dividend policy.”. International Business Machines Corporation (IBM) is an American multinational technology and consulting company headquartered in Armonk, New York, with more than 350,000 employees serving clients in 170 countries.. On October 8, 2020 IBM announced it was spinning off the Managed Infrastructure Services unit of its Global Technology Services division into a new public company, an … (3) Represents the second-quarter 2020 impact of the deferred revenue purchase accounting adjustment and adjustments to add back revenue which was eliminated for sales between Red Hat and IBM. The coronavirus pandemic has challenged IBM, among other companies, in part because of exposure to industries such as retail and transportation that the pandemic interrupted. This statistic highlights IBM Revenue by business segment from the first quarter of 2016 (Q1 2016) to the last quarter of 2019 . “The strong performance of our cloud business, led by Red Hat, underscores the growing client adoption of our open hybrid cloud platform," said Arvind Krishna, IBM chief executive officer. International Business Machines Corporation (IBM) is an American multinational technology and consulting company headquartered in Armonk, New York, with more than 350,000 employees serving clients in 170 countries.. On October 8, 2020 IBM announced it was spinning off the Managed Infrastructure Services unit of its Global Technology Services division into a new public company, an … That helped offset revenue declines in the tech support units Global Business Services and Global Technology Services, which account for about 56% of IBM’s total revenue. “IBM remains focused on helping our clients adapt to the immediate challenges of the COVID-19 pandemic, while we continue to enable them to shift their mission-critical workloads to hybrid cloud and expand their use of AI to help transform their operations," said Arvind Krishna, IBM chief executive officer. IBM has generated $12.81 earnings per share over the past year and currently has a price-earnings ratio of 14.3. ET First Published: Oct. 16, 2020 …